German Econ Ministry Confirms BAIC Signals Interest For Opel
26 Mai 2009 - 9:06PM
Dow Jones News
Beijing Automotive Industry Holding has signaled interest for
General Motors Corp.'s (GM) German Adam Opel GmbH unit, a spokesman
for the German Economic Ministry told Dow Jones Newswires on
Tuesday, confirming a press report BAIC made an offer.
Earlier Tuesday, daily Die Welt said BAIC made a formal offer,
citing unidentified financial sources. According to the report,
BAIC won't cut jobs in Germany as part of the deal, plans to keep
all German plants for two years and demand less financial
guarantees from the state than rival bidders. The report said BAIC
is being advised by Deutsche Bank AG (DB) as well as its
cooperation partner Daimler AG (DAI).
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.